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4/28/2014 3:43PM

BofA Halts Stock Buyback and Dividend, and More

What's News: After a math error, Bank of America suspends its plans for a $4 billion buyback and dividend boost. Researches say they have created an embryonic clone of a woman with diabetes. Michael Grimm is charged with tax violations and more.

This transcript has been automatically generated and may not be 100% accurate.

... I error at Bank of America has a knee-jerk consequences is what's news I'm WS J last I'm Joann Co ... bank of America suspended ... plans for a four billion dollars stock buyback and dividend boost ... this after the second-largest U S bank by assets as ... it discovered an error in the wake calculated its capital levels mistake is related to securities known as structured securities ... issued by Merrill Lynch before Merrill was bought by Bank of America into thousandnine ... this means that the bank has blessed high quality capital than it previously reported ... bank of America brought the mistakes of the attention of the Federal Reserve ... which is requiring it to resubmit its capital plan ... and other medical advance for cloning technology ... researchers say they've created an embryonic Lord Abbett thirty two year old one input type one diabetes ... the scientists extracted healthy stem cells from the clone ... and then converted themselves into new ones that produce insulin ... the new study was published Monday in the journal nature ... the long term hope ... would be to transplant new insulin producing cells back into the patient ... and treat diabetes without the rejected by the patient's body ... because they carry their own DNA ... U S Congressman Michael Graham is charged with tax violations committing mail and health care fraud ... perjury and other crimes Monday as part of a twenty count indictment ... that charges mostly stemmed from the payment of workers Mr Green employed ... at its former Manhattan whole foods store ... Republican representative ... from Staten Island pleaded not guilty and was released on a four hundred thousand dollar bond ... Mr Green said the investigation and charges ... were part of an attempt to assassinate his character and remove him from office for more into follow the stories ate into Des beest live or check in